SG corporate edtech startup ProSpark secures seed funding for expansion

Published on May 11, 2021

Original Post by AsiaTechDaily

Singapore-based education technology (edtech) startup ProSpark announced raising an undisclosed sum in seed funding that it will use to expand its commercial footprint.

ProSpark, which started in Singapore and now has offices in Indonesia and the Philippines, said the funding round was led by Indonesian venture capital firm AC Ventures.

500 Startups, Azure Ventures, Prasetia Dwidharma, Assembly Ventures (USA), and prominent angel investors also participated in the funding round.

ProSpark said it plans to use the funds to continue expanding its commercial footprint, boost its technology infrastructure, and solidify its position in the market.

“The company is also working on plans for regional expansion across Southeast Asia. Right now, it is in Indonesia and has expanded to the Philippines,” the company said in a statement.

Founded in mid-2018, ProSpark offers a B2B learning management system that fosters capability building in organizations by bringing together a distributed content marketplace.

The platform trains, upskills, and reskills the workforce as the corporate education sector is evolving and more flexible and robust solutions are growing in demand.

ProSpark founder and CEO Alfa Bumhira said companies have been trying to find the best learning approach due to the pandemic.

“Now that e-learning is growing, offline learning has become relatively more costly, inefficient, and less scalable. Their existing solutions are not flexible and expensive to maintain,” he added.

ProSpark comes with a solution that is personalized and measurable: a learning that is adaptive with perceptible outcomes, Bumhira stressed.

“The funding should help us expand the end-to-end user experience by
providing expanded content solutions, better competencies’ gaps mapping capabilities, and strengthen our focus on user learning outcomes,” he said.

Among ProSpark’s customers are GoJek, Bank Sampoerna, Kopi Kenangan, Northern Star Energy, PasarPolis, RD Pawnshop, and many others.

Commenting on the investment, AC Ventures general partner Pandu Sjahrir said ProSpark is helping to bring a new wave of users into the formal economy by helping them learn new tools and skills of becoming effective in their day to day business operations